Overview

Credit Hours - 3

This course is about selected legal principles in law courses and financial law including Contract Law; Labour Law; Land Law, Tort law, Conveyancing, Commercial Law, Loan Negotiations, Loan Administration, Procurement of Agricultural Goods and Services, Disbursement of Loans, Crop and livestock insurance, and Environmental Law. The student in this class must be able to find and describe the relevant policies and laws that creates rights and duties in the regulation of agriculture and agribusiness in Ghana.

Credit Hours - 3

Agricultural Price Analysis & Marketing

The role of prices; demand analysis (theory), focusing on review of consumer behaviour, utility maximization, elasticity, substitution & income effects of price changes, Engel curves. Demand analysis (empirical consideration), demand for a typical farm product, formulating demand equations, demand for agricultural inputs. Supply analysis, supply relation in agriculture, estimating supply functions (direct & indirect approaches). Estimation problems, model specification, using cross-section and time-series data, interpreting estimated parameters, statistical tests, and forecasts. Introduction to Futures market. General overview of Agricultural pricing policies in Ghana.

Overview; business, marketing and trade; problems in agricultural marketing and trade, the concept of market, market structure and trade; Group behaviour and pricing (non-collusive oligopoly models, collusive oligopoly concepts); non-price competition; Critical issues in international trade (the foreign exchange market, tariffs, balance of payments, economic integration)

Credit Hours - 3

Management Accounting

The course is designed for students to develop the skill in preparing the accounts and financial statements of farms and other agricultural businesses (agribusiness). The course focuses on the knowledge and skills that analysts need in managing the accounts and financial positions of farms and other agribusinesses. It presents the concepts in management accounting, including: overview of management accounting; basic cost classifications and concepts; materials control; stock valuation; ledger accounting; product costing systems; cost-volume-profit (CVP) analysis; standard costing; marginal and absorption costing; and performance measurement.

Credit Hours - 3

Managerial and Business Economics

The purpose of the course is to introduce students to the economic environment in which businesses operate and provide an understanding of how economic principles are applied in management and business. Course content: The scope and nature of managerial and business Economics; Internal organization of firms; The firm and its Environment; Alternative Business objectives; Markets and industries; Demand estimation and forecasting; Production and costs; Linear Programming and production Structures; Pricing practices; Decision making under uncertainty; Capital budgeting; The economics of Human Resource Management; Business information; Forms of business organization; The role of government in the market economy.

Credit Hours - 3

Quantitative Methods & Operations Research

Introduction, Probability and Decision Making, Index Numbers, Time Series Analysis, Correlation and Regression Analysis, Forecasting, Network Analysis and Scheduling, Inventory Control, Simulation Analysis, Waiting Lines Analysis (Queuing Theory), Linear Programming- Simplex Method and Advanced Methods, Transportation and Assignment Problem.

Credit Hours - 3

Fundamentals of Business Planning & Policy

The nature and Importance of Business Policy and Planning; Policy and levels of planning (global, national, community and firm). The business Planning Process: Feasibility study, the route to market entry; and the business plan. Strategic planning: Choosing the strategy, implementing the strategy, evaluating the strategy.  Annual plans; action plans (the logical framework).  Contingency planning; Information systems for planning; Policy implementation.

Credit Hours - 3

Agribusiness Management

Overview of Managerial and Business Economics; Micro-economic Concepts and their Application to Business; Business Behaviour in Different Market Structures; Production and Costs; The Firm and Its Environment; Demand Estimation: Regression Analysis; Decision Making Under Uncertainty; Product Pricing; Types of agribusiness ownership, such as Sole Ownership, Partnership, Corporate Structure, etc. Managing the agricultural business, including strategic management, comparative advantage and competitive advantage, value-chain analysis. Business analysis and control – financial Statements, profit and loss statement, financial ratio analysis, and performance and activity analysis. Managerial Economics and Public Policy – how and why market regulation. Globalization – of markets and production; drivers of globalization. Economics of Human Resource Management. Case Studies.

Credit Hours - 3

Agrifood Business and Agroprocessing

Introduction: the agricultural modernisation goal and agro industrial development. The current situation of agro industry in Ghana.  A Systems Approach to Agro industrial Analysis: production chain linkages, macro-micro policy linkages, institutional linkages, international linkages. Alternative analytical methodologies: Porter’s value chain approach.  Options in Agri food Business Organisation: basic concepts in organisational development, integration, differentiation, the co-operative system, outgrower schemes.  Principles of Agro processing: the basic component activities of agro processing (Procurement, processing and marketing).  The governance structure: Food safety and environment issues, laws and institutions in Ghana. Case Studies: - The management marketing and financing strategies in the: Egg Production Business, Chicken meat processing business, Palm Oil Processing business, Fruit Processing business, Grain processing business.

Credit Hours - 3

Agricultural Marketing & Research

Overview (Definitions, importance of marketing and trade, the role of marketing in Ghana’s poverty reduction strategy); business, marketing and trade; problems in agricultural marketing and trade, the concept of market, market structure and trade (the static theory of perfect competition, the static theory of monopoly, the trade theory); marketing research (purpose, uses, procedure and applications in key agribusinesses in Ghana.); Group behaviour and pricing (Non-collusive oligopoly models, collusive oligopoly concepts); non-price competition (theory of product differentiation, useful tools of product differentiation, improving production quality and efficiency); Critical issues in international trade (the foreign exchange market, tariffs, balance of payments, economic integration); Welfare issues in agricultural marketing (social choice mechanisms, market failure and government intervention, pricing public goods and bads; the Ghana National Trade Policy and institutions).

Credit Hours - 3

Econometrics II (See Economics Department)

Credit Hours - 3

Econometrics I (See Economics Department)

Macroeconomic Theory II) (See Economics Department)

Credit Hours - 3

Microeconomic Theory II (See Economics Department)

Credit Hours - 3

Macroeconomic Theory I (See Economics Department)

Credit Hours - 3

Microeconomic Theory I (See Economics Department)

Credit Hours - 6

Research Project

Students are expected to choose a subject of scientific inquiry and follow all relevant protocols to investigate the problem. Guided by a lecturer supervisor, they will produce a report, which will be assessed on the basis of its scientific rigour, depth of analysis and flow of thought among other things. The course is run in both first and second semester.

Credit Hours - 3

Research Methods, Statistics & Mathematics for Economists & Business

The scientific method of Enquiry in Business & Economics research; Basic and Applied Research; the Scientific Research Process; from proposal writing to dissemination of results; Data/Information Gathering; Methods of Data Collection; Sampling Techniques; Organizing Data for Analysis: Coding, Cleaning, Summary Statistics; Farming Systems Research; Economic Analysis of Agronomic Data. Nature of Statistics, Uses of Statistics in Economic and Business Research Models; Concept of a Random Variable; Probability Distribution Functions; Measures of Central Tendency; Measures of Dispersion; Moments of a Distribution: 3rd and 4th Moments (Skewness & Kurtosis); Concept of a model/Use of Economic models; Classical normal regression assumptions and estimation procedures of the Ordinary Least squares; Desirable Properties of estimators & Hypothesis Testing. Role of Mathematics in Economic and Business Research; Variables and Parameters, Domain of Variable; Concept of a Function: Explicit and Implicit Functions, Inverse Functions; Functional Forms: Linear, Quadratic, Cubic, Polynomial, Logarithmic, Exponential, Inverse, Semi-Logarithmic, Double Logarithmic (Log-Log) Functions; Equations: Solution of Linear, Quadratic and Cubic Equations; Matrix Algebra; Differential Calculus; Optimization Problems: Unconstrained and Constrained Optimization Problems; Integral Calculus

Credit Hours - 3

Microeconomic and Macroeconomic Theory

This course builds on courses AGEC 201 and AGEC 202. It presents the theoretical underpinnings of both macroeconomic and microeconomic phenomena. At the end of the course, candidates should be able to understand and explain economic phenomena using geometry, calculus and difference equations.  Candidates are also required to apply the theories learnt to the economy of Ghana. 

Introduction: Overview of the Nature of Scientific Theory. The Scientific Method of Enquiry. Methodology of Economics.  Nature and Purpose of Economic Theory. Concept of an Economy. Definition of Macroeconomic Theory. Definition of Microeconomic Theory. Concept of a Market. 

II. Microeconomic theory: Theory of Production.  Theory of Cost. Theory of Factor Demand. Theory of Product Supply. Theory of Consumer Demand. Consumer Surplus.  Producer Surplus.  Economic Welfare.

III. Macroeconomic theory: The Classical Theory of Employment and Aggregate Output. The Classical Theory of Inflation. The Complete Classical System. The Keynesian Theory of Employment and Aggregate Output. IS/LM Framework. Monetary and Fiscal Policy. The Keynesian Theory of Inflation. The Inflation-Unemployment Relationship. Structuralist Theory of Inflation. The Complete Keynesian System. The New Classical Macroeconomics:  Rational Expectations Theory. Theory of Business Cycles.

Credit Hours - 3

Project Analysis

This course is designed for students to develop the skill in analysing agricultural projects. The text focuses on the knowledge and skills that analysts need in the appraisal of agricultural projects. It presents the project concept, including: the classes and causes of poor project performance; the project cycle; setting up of a monitoring and evaluation system; aspects of project preparation; identification of project costs and benefits, measures of project worth, and mutually exclusive projects.

Credit Hours - 3

Farm Management

This course is designed for students to develop the skill in managing farms and other agricultural businesses (agribusiness). The text focuses on the knowledge and skills that analysts need in the management of farms and agribusiness. It presents the farm management concept, including: business management concepts; the farm management information; preparation of financial accounts; analysis of financial accounts; management accounts; farm budgets and control; and risk and uncertainty.

Credit Hours - 3

Macroeconomics (Principles and Applications to Economy of Ghana)

Concept of an Economy, Definition of Macroeconomic Theory. National Income Accounting. Aggregate Output Function. Aggregate Labour Demand and Supply Functions. Consumption, Savings and Investment Functions. Money Demand and Supply Functions. Fundamentals of National Income Determination. Aggregate Demand and Supply Curves. Business Cycles. Fundamentals of Exchange Rate Determination. Fundamentals of the Causes of Inflation. Applications to the Economy of Ghana.

Credit Hours - 2

Microeconomics (Principles and Applications to Households and Firms)

Overview of Economics. The Economic Problem. Branches of Economics. Overview of Microeconomics: Nature, Use and Limitations. Concept of a Final Good. Concept of an Intermediate Good.  Concept of a Market. The Market Mechanism. Shortage and Surplus in a Market. Effects of Demand and Supply Shift Factors on Equilibrium Quantity and Equilibrium Price. Final Goods Markets. Intermediate Goods Markets. Concept of Elasticity. Supply and Demand Elasticities for Final Goods Markets and Intermediate Goods Markets. Consumer Choice: Utility Curve, Utility Surface, Indifference Curve and Indifference Surface. Rate of Commodity Substitution. Budget Line. Consumer Equilibrium and Derivation of Consumer Demand Curve for Final Goods. Income and Substitution Effects. Producer Choice: Concept of a Production Function. Well-behaved Production Curves and Surfaces. Isoquant Curves and Surfaces. Marginal Rate of Technical Substitution. Production Elasticities. Isocost Curves and Surfaces. Objectives of Producers: Output Maximisation, Cost Minimisation, Profit Maximisation. Equilibrium of the Producer and Factor Demand Curves. Product Supply Curves and Surfaces. The Structure of Markets: Competition, Monopoly, Oligopoly and Monopsony. Agricultural Economics as an Applied Discipline. The Structure of Agriculture in Ghana. Government Policy and Agriculture in Ghana.

Credit Hours - 2

Introduction to Economics

The objective of the course is to provide beginning students with the basic economic tools that will enable them to appreciate the economic systems of the world and how an economy works.

Microeconomics

What is Economics? Scarcity and Choice, Economic Systems of the World, Micro and Macro Economics, Positive and Normative economics, Economics and Agricultural Economics, Techniques of Economics Analysis: Inductive and deductive reasoning, Scientific method of enquiry, theory and hypothesis, use of graphs, Analysis of consumer behaviour: Consumer choice, concept of utility, indifference curves, budget lines, consumer equilibrium, Demand Analysis: Demand Schedule, Demand curve, Demand function, change in quantity demanded versus change in demand, Factors affecting the demand of a commodity, Supply Analysis: Supply Schedule, Supply curve, Supply function, change in quantity supplied versus change in supply, Factors affecting the supply of a commodity, Elasticity of Demand and Supply: Concept of elasticity, price elasticity of demand and supply, income elasticity, cross price elasticity, Markets: types of markets, characteristics of markets, equilibrium of competitive markets, Theory of the firm (production economics): concept of short-run and long-run, fixed and variable inputs. Concept of cost fixed and variable costs.

Macroeconomics

Nominal and real values in economics: Consumer Price Index (CPI), GDP deflator, purchasing power, National Income Determination: Gross Domestic Product (GDP), Gross National Product (GNP), consumption function, savings function, the multiplier measurement problems, Inflation: Level of Inflation, rate of inflation, effects of inflation, Unemployment: rate of unemployment, labour force.